19 May 2015
The Retirement Mortgage from Hodge Lifetime has filled the gap between the residential mortgage market and the traditional roll up equity release market.
Designed to offer the flexible features of a residential mortgage alongside the benefit of a lifetime term, customers are required to make monthly interest payments and can also make capital repayments of up to 10% per annum in the first five years. From year six onwards, the loan can be repaid in part or full with no early repayment charge.
The Retirement Mortgage is available solely via financial intermediaries and this short guide has been produced as a ready reckoner on product features, customer profiles and offering hints and tips on affordability.
This article is intended for the use of financial intermediaries only.